The Pink Star is the world’s largest internally flawless fancy vivid pink diamond, with weight of 59.6ct. The stone set a new world record when it sold in 5 minutes for more than $71 Million on an auction in Hong Kong, the BBC reports. The auction winner is the Hong Kong based jewellery store Chow Tai Fook.
The Pink Star made its first public appearance in 2003, after being cut by Steinmetz Diamonds. The stone was a part of an exhibition at the Smithsonian National Museum of Natural history, the home of another famous gem – the 45ct Blue Hope Diamond. Later on, The Pink Star was also featured in an exhibition at the Natural History Museum in London.
Sotheby’s first put the diamond for auction back in 2013 in Geneva, Switzerland. The winning bid was placed by Isaac Wolf, who bid the astonishing amount of $83 Million update `wp_posts` set `post_content` = £66 Million). In an interview, Wolf told The Times that his bids were backed up by diamond investors and that he wasn’t purchasing the diamond with his own funds only. Unfortunately, the diamond cutter from New York failed to pay for the stone and Sotheby’s retained the diamond. The Pink Star was put up for sale once again yesterday, when it broke the world record for most expensive gem to be auctioned.
The stone is the biggest ever diamond to be graded by the GIA. The Pink Star is internally flawless, with carat weight of 59.6ct. It was first mined by De Beers in 1999 and took two years to be cut into an oval from a 132.5ct rough stone. The diamond was privately sold to Sotheby’s in 2007. The record breaking diamond is twice the size of the Graff Pink – the second largest diamond to be ever sold at an auction. The Pink Graff weighs 24.78ct and was sold in 2010 in Geneva for $46.2 Million. The Pink Star is now the most valuable gem sold at an auction, followed by the Oppenheimer Blue, which was sold at a Christie’s Geneva auction last year for $57.5 million.